• Tron (TRX) price started a fresh increase from the $0.055 level against the US Dollar and is now trading above $0.06 and the 55 simple moving average (4-hours).
• There was a break above a major bearish trend line with resistance near $0.066 on the 4-hours chart that could continue to drive the price higher if it breaks past the $0.070 resistance zone.
• The next major resistance for TRX is near the $0.0700 level, and any more gains could push it towards $0.0720 or even higher towards $0.075.
Tron price started a fresh increase from the $0.055 level against the US Dollar, moving into positive territory above the $0.060 zone. There was a break above a major bearish trend line with resistance near $0.066 on the 4-hours chart, allowing for further upside in TRX price if it clears past the key resistance at $0.070 area.
The MACD for TRX/USD is currently gaining momentum in bullish zone while RSI is hovering around 50 level, indicating no overbought or oversold conditions yet as of writing this article..
The next major resistance for TRX is near the key psychological level of 0$.0700, and any more gains could push it towards 0$.0720 or even higher towards 0$.075 levels respectively . On downside , initial support can be seen around 0$.0660 followed by stronger one at 0$.0620 levels respectively .
Overall, Tron’s current outlook looks bullish as long as it stays above key support levels, however more gains are likely only when it breaches past 0$.070 area convincingly .